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A comparative balance sheet for Wildhorse Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment Total Liabilities and Stockholders' Equity
A comparative balance sheet for Wildhorse Corporation is presented as follows. Assets Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total December 31 2020 2019 $ 72,770 $ 22,000 83,870 68,100 181,870 191,100 72,870 112,100 261,870 202,100 (70,870) (44,100) $602,380 $551,300 $ 35,870 150,000 214,000 202,510 $602,380 $ 49,100 200,000 164,000 138,200 $551,300 Additional information: 1. 2. Net income for 2020 was $128,740. No gains or losses were recorded in 2020. Cash dividends of $64,430 were declared and paid. Bonds payable amounting to $50,000 were retired through issuance of common stock. 3. Prepare a statement of cash flows for 2020 for Wildhorse Corporation. (Show amounts that decrease cash flow with either a-sign eg. -15,000 or in parenthesis e.g. (15,000).) WILDHORSE CORPORATION Statement of Cash Flows $ Adjustments to reconcile net income to
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